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Owner Name Date Shares Value ($1000)
TRADEWINDS GLOBAL IN... 3/31/2009 11,808,502 $6,495
Bought 11M shares last March?
TRADEWINDS GLOBAL INVESTORS, LLC
2049 CENTURY PARK EAST
LOS ANGELES, CA 90067
(310) 552-5114
Price of Cobalt seen rising:
Cobalt established above $20/lb at 9-mth highs, further rises seen as market tightens
By Martin Hayes - Chief Correspondent, martin@minormetals.com (+44 (0)20 7929 6339)
London, 06 August 2009 - Cobalt prices continued to push higher in Europe on Thursday, with growing tightness for high-grade metal lifting the market to its highest for nine months.
Further gains are expected in the short term, traders said.
On the free market, high-grade 99.8 percent metal was quoted at $20.00/21.50 per pound, up around $0.75 over the last week, while 99.3 percent Russian metal stood at $18.25/19.25, also up around $0.75
"It did stabilise last week but there has been demand for high-grade out of the US," a trader said. "Jinchuan have also raised their price considerably [to $23.24]."
The major Chinese producer is also making less metal available.
Already-tight supply at the top end of the market has been exacerbated by a continuing strike at Vale's Inco unit in Canada, where a stoppage at Sudbury has spread to Voisey’s Bay - cobalt is a by-product of nickel.
Force majeure, which has been declared on nickel deliveries, has also been invoked for cobalt, trade sources say.
"That will impact on sentiment, as I am not sure there was that much availability anyway," the trader said.
This will add to pressure on consumers, who have been destocking throughout the year and who must return to an environment of tight supply and low inventories, while there have also been signs of improving prospects in cobalt's key end-use sectors.
Demand is believed to have fallen less then 3 percent in 2008 but will still decline this year before recovering in 2010, CRU Group said at the recent Cobalt Development Institute (CDI) conference.
Up to 2007, demand had risen for six years in a row, reaching annual record levels of just under 60,000 tonnes. Supply and demand are usually roughly in balance each year.
Even before the final quarter, the rest of the summer is likely to see a scramble for supplies of high-grade metal, as alternative suppliers, such as African producers, have had lower availability this year so far.
The market reached five-year lows of $9.00 per pound for 99.3 grade material and $10.00 for 99.8 at the start of December last year. A vicious ride was seen in 2008, as the market tumbled after hitting 30-year peaks and near-record highs of more than $50 per pound reached in May.
Cobalt holds around 8-1/2 month highs, seen rising further
By Martin Hayes - Chief Correspondent, martin@minormetals.com (+44 (0)20 7929 6339)
London, 27 July 2009 - Cobalt prices started the week around their highest levels since early November 2008, with the recent upsurge in business and upward movement expected to continue in the medium term, traders said.
On the free market, high-grade 99.8 percent metal was quoted at $19.50/20.50 per pound, up around $1.00 over the last week, while 99.3 percent Russian metal stood at $18.00/18.75.
Consumers, who have been destocking throughout the year, are now buying in an environment of tight supply and low inventories, while there have also been signs of improving prospects in cobalt's key end-use areas.
"Everybody has de-stocked to the extent that even a five-tonne order will have an impact on the price now," a trader said. "When you think about it, the last quarter [of 2008] and first quarter [of 2009] were lousy. Even the second quarter was not up to much, so any pick-up is an improvement."
Top-grade metal is scarce, traders said, with Vale's Inco unit in Canada on strike and China's Jinchuan is making less material available.
"It is the high grade that is really dragging all the other grades up," another trader said.
Cobalt demand is fairly broad-based but around 55 percent emanates from the chemicals sector, which has started to show signs of life, while some 18 percent is used in super-alloys. Here, the production of batteries and corrosion-resistant super alloys is currently benefitting from a global boost for electric or plug-in hybrid cars that boast lower carbon dioxide emissions.
Demand is reckoned to have fallen less then 3 percent in 2008 but will still decline this year before recovering in 2010, CRU Group said at the recent Cobalt Development Institute (CDI) conference.
Up to 2007, demand had risen for six years in a row, reaching annual record levels of just under 60,000 tonnes. Supply and demand are usually roughly in balance each year.
In the short term, prices have the potential to push on further as end-users in Japan, a key market, are reluctant to commit to long-term contracts at present, turning instead to the spot market.
The market reached five-year lows of $9.00 per pound for 99.3 grade and $10.00 for 99.8 at the start of December last year. A vicious ride was seen in 2008, as the market tumbled after hitting 30-year peaks and near-record highs of more than $50 per pound reached in May.
Geovic Mining Ltd. (Geovic) aims to be the world’s largest cobalt mining company through its 60% ownership of Geovic Cameroon PLC (GeoCam). GeoCam’s Mine Permit covers 1,250 square kilometers in Cameroon, Africa, and provides exclusive production rights to seven large cobalt-nickel-manganese deposits. The first of the seven deposits, Nkamouna (pronounced ka-moon-ah), is currently under development.
Nkamouna’s proven and probable ore reserves are 54.7 million tonnes at average grades of 0.25% cobalt, 0.69% nickel, and 1.33% manganese. This reserve yields 11.7 million tonnes of concentrates grading 0.74% cobalt, 0.99% nickel, and 3.78% manganese suitable as a feedstock for the Company’s unique processing facility. An additional 145 million tonnes of inferred resources at the Mada deposit, the second of the seven properties planned for development, is adjacent to the Nkamouna processing plant.
A September 2008 Optimization Study to a 43-101 Technical Report dated January 17, 2008 estimated that the Nkamouna Project will deliver after-tax cash flow (discounted at 8%) of US $1,024 million (or $614 million net to Geovic's 60% interest), an IRR of 44%, and a payback of 1.9 years based on 100% equity financing and 3-year average metal prices (ended June 2008) of $26.57/lb cobalt and $12.39/lb nickel, respectively. Average operating costs during the first 19 years of production are estimated at $2.04 per pound of saleable cobalt, net of nickel, manganese, and scandium byproduct credits. The strength of the estimated project economics are attributed to the unique physical properties of these specific laterite deposits, and should be enhanced further by the addition of circuits to process byproduct manganese and scandium.
Due to weak commodity, capital, and credit markets, construction of the Nkamouna plant has been temporarily delayed by GeoCam. Currently, Geovic is performing bench and pilot-scale tests aimed at increasing cobalt yields, reducing capital and operating costs, and lowering overall process risks. Such tests are anticipated to be completed by the end of the third quarter of 2009, as is the publication of an updated NI-43-101 compliant resource/reserve report for the Nkamouna and neighboring Mada properties.
Cobalt has many diverse applications, including rechargeable batteries for cell phones, computers, and hybrid electric vehicles, super-alloys for jet engines, chemicals, wear resistant alloys, catalysts, and magnets. Global cobalt demand in 2007 was 59,900 tonnes compared to 31,000 tonnes in 1997, and in early 2008 cobalt prices briefly exceeded their all-time high of more than $50/lb.
Geovic is committed to sustainable development and social responsibility. Our long-term success is directly related to the welfare of the people and communities where we operate. Consequently, the Company has developed its GeoAid program to ensure that sustainable and high quality environmental and socio-humanitarian standards are an integral and essential component of our mining projects.
The Company is based in Denver, Colorado, and its common shares (GMC) and three series of warrants (GMC.WT, GMC.WTA and GMC.WTB) are traded on the Toronto Stock Exchange. Additionally, as of August 2008 the shares also trade in the U.S. on the Over The Counter Bulletin Board (OTC.BB) under the ticker GVCM. To our knowledge, Geovic is one of the few pure cobalt plays in the investment universe.
As this website contains forward looking statements, please see the “Disclaimer” link herein.
http://www.geovic.net/
Fascinating info... here is their web link -
http://www.geovic.net/
Japan Unable to Buy Cobalt and Ferro Vanadium
July 2nd, 2009
As a follow-up to Stuart’s post earlier today about Japan replenishing various key metals and the US’ need to do the same, a story released yesterday from Reuters mentions Japan Oil, Gas and Metals National Corp (JOGMEC) was unable to come to price terms for the purchase of two strategic metals – cobalt and ferro vanadium. This comes as no surprise, particularly in terms of cobalt which is currently in short supply. The supply market should ease somewhat as producers that shut down operations this summer re-open again in the fall.
Cobalt prices rise again as enquiries increase
24 June 2009 15:21
Cobalt prices rose again on Wednesday as some suppliers said they were fielding more enquiries for metal. “I have enquiries from Chinese and Western buyers. We’ve had more enquiries this week than in any other week this year,” one supplier said, noting that he recently sold 20 tonnes of low-grade metal at $14.95 per lb. “The market is more robust all around,” he added, as low-grade prices rose to $14.25-14.95 per lb from $13.90-14.50 previously and high-grade edged up to $15-15.95 per lb from $14.75-15.95. A...
Geovic Mining Announces Appointment of John T. Perry as Director
DENVER, COLORADO--(Marketwire - June 15, 2009) - Geovic Mining Corp. ("Geovic" or "the Company") (TSX:GMC)(OTCBB:GVCM) is pleased to announce the appointment of John T. Perry to the Board of Directors, expanding it to eight members.
Mr. Perry, currently President and Chief Executive Officer of Nord Resources Corporation (TSX:NRD)(OTCBB:NRDS), an Arizona-based copper mining company, has 20 years of mining industry experience, focused principally on the management, finance, and transactional aspects of the business.
Prior to joining Nord in 2005, he spent seven years with BHP Billiton, where he worked in various senior management positions including President, BHP Copper, and Vice President, BHP Billiton Base Metals, and four years as Finance Manager with Magma Copper.
Wade Nesmith, Chairman of Geovic Mining, comments, "We welcome John to the Board of Directors. His extensive experience in mining management and finance provide an excellent complement to the current members. I have worked successfully with John in the past, and look forward to the contributions he will undoubtedly bring to future Geovic endeavours."
Geovic Background
Geovic is a U.S.-based corporation whose principal asset is a significant cobalt-nickel-manganese deposit in the Republic of Cameroon. Additionally, the company controls a diverse portfolio of energy, precious metals, base metals, and uranium projects in the United States, operated through its wholly-owned subsidiary Geovic Energy (www.geovicenergy.com).
Additional Company and project information may be found on the websites www.sedar.com and www.sec.gov.
On behalf of the Board
John E. Sherborne, CEO and Director
Cautionary Note Regarding Forward Looking Statements
Statements contained in this press release that are not historical facts are forward-looking statements (within the meaning of Canadian securities legislation) that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of metals; the estimation of mineral reserves and resources; the timing and amount of estimated future production, costs of production, and capital expenditures; costs and timing of the development of new deposits; and success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "proposes", "expects", "is expected", "scheduled", "estimated", "intends", or variations of such words and phrases or state that certain actions, events or results "will" occur. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to operations; actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; possible variations in ore reserves, grades, or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other factors as described in detail in the Company's Annual Information Form and Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
FOR FURTHER INFORMATION PLEASE CONTACT:
Geovic Mining Corp.
Andrew C. Hoffman, CFA
VP, Investor Relations
Direct (720) 350-4130 or Toll-Free (888) 350-4130
ahoffman@geovic.net
www.geovic.net
Vanguard Shareholder Solutions
Direct (604) 608-0824 or Toll-Free (866) 801-0779
ir@vanguardsolutions.ca
Torrey Hills Capital
Direct (858) 456-7300
info@torreyhillscapital.com
Source: Marketwire Canada (June 15, 2009 - 5:32 PM EDT)
News by QuoteMedia
sit and wait on this one. keep loading up at these ridiculously low prices. 2010 will be the year for this company.
Why no Bid/Ask price quotes since the listing OTCBB? Some
sites have patial quotes Bid/no ask Ect...! IE. Scott Trade.
Without a doubt. I'm a believer in this company and am willing to wait. Because they will be the largest miner of cobalt in the world and I want to reap the benefits when this stock takes off!
It,s time to load up p p !!!!! Below a $ . !!!
Guess I was wrong.....thankfully
Nice movement today so far, but if it holds true to form of as late it will come back down by the end of day.
GVCM is a great play. Unfortunately you wont see a payoff until mid to late 2009 imo. The good thing about this is you can load up now @ $1.26 ps. Who knows by the end of the year is could double. When they start pulling the cobalt and nickel out of the ground thats when you will see this thing really take off, $20-$30 range imo, considering there are no major setbacks. I mean they are sitting on the largest cobalt find in the world!
Anybody still in GVCM? Seems like a good investment. Very interesting technology. Cobalt prices have soared.
That's what I figured... and the price differential is just exchanging it to American currency from Canadian?
GVCM is just the way to trade buy/sell Geovic Mining on the American market.
Zman
I'm trying to figure this out... So are GVCM and GMC.tsx the same thing? They're both Geovic Mining... Is GVCM just a way to purchase GMC.tsx on the American market?
Just the news that are PRd already....Next year and beyond will prove to be very eventful, imo, forf Geovic.
Good Morning Glad to see you and Geovic. Bought a few shares about 4 months ago...when price was higher. I believe we have made a good investment here. Do you have any news. GL.
50INV Lady
Keep an eye on GEOVIC for 2008 and beyond. Should be an interesting ride.
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Geovic Mining Corp (GMC) is committed to sustainable development and social responsibility. By this we mean that our long-term welfare is directly related to the welfare of the people and communities in the areas where we operate. In the end, these are the people who should be the main beneficiaries of our cobalt mining activities.
We expect to leave behind the capacity for a better future for our hosts. This commitment encompasses the following values:
GMC is also committed to excellence with regard to the environment. We recognize and embrace the concept that sound environmental management is essential for our business.
Understanding, minimizing and mitigating all environmental impacts, as well as using all resources prudently and efficiently, is critically important to GMC. We pledge to conduct our activities in a manner that safeguards all the resources under our stewardship, whether they are minerals, forests, water, land or air.
The best way to reduce the effects of our operations on the environment is to disturb as little of it as possible. We will implement sustainable development initiatives that meet present needs without compromising those of future generations.
In Cameroon, GMC is developing an understanding of how the interplay of social, ideological, environmental and economic factors affects the fragile balance of the country's ecosystem. GMC is developing its GeoAid (“Earth Aid”) program to ensure that sustainable and high quality environmental and socio-humanitarian standards are an integral and essential component of the Company's mining operation. This program is more fully outlined in the document "Geovic, GeoAid and the Environment."
Wade Nesmith Chairman | John E. (Jack) Sherborne Chief Executive Officer, Director |
David C. Beling Executive Vice President, Chief Operating Officer | Barbara A. Filas Executive Vice President, Corporate Development & Chief Administrative Officer |
William A. Buckovic Executive Vice President, Exploration, Director, Founder | |
Greg Hill Senior Vice President, Chief Financial Officer | Gary R. Morris Senior Vice President, President Geovic Mineral Sands |
Conrad Houser Senior Vice President, President, Geovic Energy | Alan W. Peryam Senior Vice President, General Counsel |
Andrew C. Hoffman, CFA Vice President, Investor Relations | |
Diane Hartnett Corporate Controller | Shelia I. Short Corporate Secretary |
Michael Goldberg Director | John T. Perry Director |
Robert J. (Don) MacDonald Director | Gregg Sedun Director |
Michael T. Mason Director |
Greg Hill Chairman | Richard Howe General Manager, Director |
Moger Jean Claude Ayem Director | David C. Beling Director |
Ambroise Ondoa Onana Director | |
Anita Efoua Mbozo'o Deputy General Manager |
|
Pierre-Marie Noah Procurement, Logistics | |
Patrick Holmes Finance, IT |
Corporate Information for | Geovic Mining | |
Corporate Head Office Geovic Mining Corp Telephone: 303.476.6455 Operations Office Geovic Mining Corp Exchange: TSX Exchange | Registered Office 2711 Centerville Road, Suite 400 Auditor Transfer Agent Email: service@computershare.com |
Know the Management | Know the News | |
http://www.geovic.net/biographies.php | http://www.geovic.net/news.php |
Cobalt is an element that has many diverse and critical uses. In most applications, substitution for cobalt yields lower product performance. Below are cobalt’s most common usages.
2007 Global Cobalt Use(1) | % of Market |
Batteries - Cell phones, computers, hybrid vehicles, portable tools, etc. | 25 |
Super Alloys - Turbine blades, mainly jet engines | 22 |
Chemicals - Includes pigments and dyes | 26 |
Wear Resistant Alloys - Hard facing and cobalt carbide | 12 |
Catalysts - Includes Gas-to-Liquid conversions | 9 |
Magnets - High performance applications | 6 |
Cobalt in rechargeable batteries is the fastest growing use, and notably in 2007 the percentage of cobalt use for rechargeable batteries rose to 25% of total cobalt demand from 22% in 2006. Nickel metal hydride and lithium-ion batteries both contain cobalt and are used in hybrid electric vehicles (HEVs), computers, cell phones, portable tools, audio/visual units, and numerous electronic devices. The fastest growing segment of battery applications is for HEVs, which reduce air pollution and fuel consumption by at least 50% compared to conventional vehicles. The HEV “plug-in” option is even more environmentally friendly, and includes an extra cobalt-bearing battery that can be charged from electrical outlets and achieve fuel economies that exceed 100 miles per US gallon. In the US, roughly one-third of all CO2 emissions come from transportation sources.
The Toyota Prius HEV was named 2004 Motor Trend Car of the Year and 2005 European Car of the Year. The one millionth unit was sold in April 2008, and Toyota estimates sales of one million hybrid vehicles annually "as early as possible in the 2010s". In the next few years, the Company plans to offer all Toyota and Lexus models as hybrids. General Motors, Ford, Daimler-Chrysler, Mercedes, and others are attempting to catch up with Toyota’s hybrid success. Nearly all current HEVs use nickel-metal hydride batteries that contain about 22 pounds of nickel and 3 to 5 pounds of cobalt. Lithium-ion batteries containing 5 to 7 pounds of cobalt and little or no nickel are expected to dominate future HEV markets because they charge in minutes rather than hours and offer many other economic and technical advantages. Global production of HEV’s in 2007 was about 400,000-500,000 units, and is estimated to increase to 8 million units by 2015(2), thereby increasing annual cobalt demand by nearly 22,000 tonnes/year. In 2006, the world produced 69 million conventional cars and light trucks, and is expected to produce over 80 million units by 2015.
Cobalt Supply and Demand
The cobalt market is dynamic but small in comparison with other base metals. Consumers purchase cobalt through negotiated agreements, bids, and open markets from producers, traders and to a lesser degree, government stockpiles and private inventories. Approximately 48% of the world’s 2007 cobalt mined was a byproduct of nickel from sulfide and laterite deposits. An additional 37% was produced as a byproduct of copper operations, mainly in the Democratic Republic of the Congo (DRC) and Zambia. The remaining 15% of cobalt mining came from primary producers.
Several new projects are deemed to be sufficiently advanced and financed to produce significant quantities of cobalt in 2009-10 (mainly as a byproduct), including those listed below. However, until that time cobalt demand is expected to significantly exceed production due to limited new production and the absence of stockpiles. Additional projects may also come on stream in the intermediate term, however political and logistical issues in the DRC may endanger the viability of some of the larger projects.
Major New Projects | Start Up Year |
| Annual Prod. |
Tenke Fungurume | 2009 | DRC | 4,000 |
Talvivaara | 2009 | Sweeden | 2,500 |
Goro | 2009 | New Caledonia | 1,500 |
Kamoto | 2010 | DRC | 1,000 |
Katanga | 2011 | DRC | 1,000 |
Camec | 2011 | DRC | 1,000 |
Nama | 2011 | Zambia | 1,000 |
Idaho | 2011 | U.S. | 1,000 |
Total | n/a |
| 13,000 |
Cobalt consumption in 1995 was only 24,000 tonnes, but grew to 60,800 tonnes in 2008, for a compound annual growth rate (CAGR) of 7.4% for the 13-year period.
Geovic's preliminary estimate for 2009 world demand is 52,600 tonnes, or a 13% decrease from 2008 demand, principally due to the impact of the global economic crisis in the first half of the year. On the supply side, Geovic estimates that 2009 cobalt production will fall by approximately 5% compared to 2008, to around 53,000 tonnes.
In the chart below, actual world supply and demand data from external sources are used through 2008, whereas the projections from 2009 through 2015 are based on an 11% CAGR (principally due to the "catch-up effect" following the aforementioned significant demand decline in 2009). The combination of production from existing mines and new production is expected to yield 10% CAGR between 2008 and 2015, however the aforementioned demand growth is expected to yield a relatively tight supply/demand balance during that period.
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Source: Actual supply and demand by USGS, The CDI and other independent research groups. Projections after 2008 were developed by Geovic. |
Roskill Consulting, an international group that researches mineral industry information, estimates growth in demand by 2011 in a most likely case to be 72,500 tonnes(3). However, this forecast could be considerably understated given the exponential growth in batteries for hybrid vehicles and new demand from emerging markets such as China and India.
Global cobalt consumption by country and the increase for the four-year period ending 2006 is shown below(4).
Tonnes Cobalt
Country | 2002 | 2006e | % Change |
Europe | 11,100 | 13,730 | 24 |
Japan | 7,250 | 12,300 | 70 |
China | 4,300 | 11,000 | 156 |
USA | 9,250 | 11,450 | 24 |
Other | 5,200 | 7,520 | 45 |
Total | 37,100 | 56,000 | 51 |
The table below shows approximate production of refined cobalt and reserves and resources by country.
Refined Cobalt Production in 2007 & Reserves(4).
Country | Mine Production | Tonnes x 1000 | Tonnes x 1000 |
Australia | 3,700 | 1,500 | 1,800 |
Brazil | 1,150 | 29 | 40 |
Belgium | 2,900 | ||
Canada | 5,650 | 120 | 350 |
China | 13,250 | 72 | 470 |
DRC | 600 | 3,400 | 4,700 |
Cuba | 3,900 | 1,000 | 1,800 |
Finland | 9,100 |
| |
France | 300 | ||
India | 1,000 | ||
Japan | 1,100 | ||
Morocco | 1,600 | 20 | n/a |
New Caledonia | 0 | 230 | 860 |
Norway | 4,000 | ||
Russia | 3,600 | 250 | 350 |
South Africa | 250 | ||
United States | 0 | 33 | 860 |
Uganda | 700 | ||
Zambia | 4,600 | 270 | 680 |
Other |
| 180 | 1,100 |
Total | 53,500 | 7,100 | 13,000 |
*includes reserves plus measured and indicated resources |
There are no published statistics on world use of cobalt scrap, but the USGS estimates 2006 U.S. scrap consumption was about 25% of reported US consumption.
Prices
Cobalt prices fluctuate significantly in response to world events and changes in the overall supply/demand balance. Historically, cobalt prices have had limited transparancy, although quotes can be found from sources such as Platt's Metals Bulletin and www.minormetals.com. In late 2009, or early 2010 the latest, the London Metals Exchange (LME) plans to launch the first-ever cobalt futures contract, which should materially improve such transparancy.
As of April 2009, the 3-year and 20-year average prices of 99.8% cathode cobalt are approximately $18/lb. and $28/lb, respectively.
Footnotes
Much of the project and cobalt market data in this report were obtained from the four sources below:
(1)The Cobalt Development Institute, www.thecdi.com.
(2) Credit Suisse Metals & Mining report, 04-02
(3) The Economics of Cobalt, 11th Ed., 2007 by Roskill Information Services Ltd., www.roskill.co.uk
(4) USGS website, http://minerals.usgs.gov/minerals/pubs/ commodity/cobalt/.www.sfp-metals.co.uk
References
Cobalt market data, publications and related services may also be obtained from other
sources, including:
Disclaimer
This document contains certain forward-looking statements and projections estimated by Geovic personnel regarding future production, metals markets, competition, capital spending, earnings, cash-flow, commodity prices, resources and other considerations. The statements are based upon Geovic’s current expectations and beliefs, and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those presented herein. Any use of this document is at the sole risk of any party that so relies.
Geovic Energy, a wholly owned subsidiary of Geovic Mining Corp. (TSX.GMC, OTCBB.GVCM), aims to become a major energy and metals mining company, targeting project opportunities in the U.S. and international markets.
The Company is developing uranium mining projects in the United States, having leased uranium properties in the Cheyenne-Denver Basin of northeastern Colorado and the Wyoming Red Desert Region, as well as gold/uranium properties in the Whetstone Mountains near Tucscon, Arizona, and three oil and gas projects in Wyoming.
Moreover, other mining interests are being pursued in various metals, mining, and energy markets worldwide.
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